Transitional
PGIM Real Estate offers a comprehensive range of non-recourse, core plus commercial real estate loans for transitional, value-add, and stabilized properties across all sectors and in both primary and secondary markets.
Core Plus
- Senior debt from $30 to $400 million
- 3-7 years inclusive of extension options
- Up to 80% loan as stabilized
- Non-recourse, except for standard carve-outs
- Flexible with minimum interest
- Future funding, release flexibility, interest reserve and earnout funding
- Fees for origination, exit and extensions may be applicable
- Bulk Distribution / Industrial
- Apartments
- Grocery-Anchored Retail
- Dominant malls
- Senior Housing
- Office
- Other Specialty Assets
The brand “PGIM Real Estate” encompasses both (1) a fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM Inc., an SEC-registered investment adviser organized as a New Jersey corporation (“PGIM”), under the name “PGIM Real Estate”, and (2) a commercial real estate debt origination and advisory platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC (“PGIM REF”), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM Inc., and, from time-to-time, may provide services to PGIM Real Estate in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF.